Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The Swedish pharmaceutical group Recipharm has announced the loss of 95 jobs at its site in Monts (Indre-et-Loire). This site is specialised in Blow Fill Seal (BFS) technology, which allows the vial to be formed, filled and sealed by the same machine under perfectly aseptic conditions. As a result of the lack of orders for Moderna vaccines against Covid-19, the site has had to reduce its production, which has had an impact on the workforce. In the midst of the Covid-19 crisis, the company received a visit from the Minister of Industry, Agnès Pannier-Runacher, who promised €35 million in support as part of the France Recovery Plan. The site subsequently hired a hundred people in 2021 before announcing 100 recruitments in 2022 (FR-Recipharm-2022).
By December 2022, the pharmaceutical company had switched to a four-day week, with a reduction in salary. But the measure is insufficient and management has announced a voluntary redundancy plan signed with the site's representative union for the implementation of a collective termination of employment contracts (Rupture conventionnelle collective) for 95 positions, out of a total of 320 positions, or nearly one third of the workforce.
The management intends to carry out this reorganisation 'in an exemplary manner'. An employment unit will be set up to assist employees who wish to leave. In addition to compensation, the group has released €10,000 for training for each employee.
Eurofound (2023), Recipharm Monts, Internal restructuring in France, factsheet number 108841, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108841.